by Calculated Threat on 11/07/2024 10:45:00 AM
In the present day, within the Calculated Threat Actual Property E-newsletter: 1st Have a look at Native Housing Markets in October
A quick excerpt:
NOTE: The tables for energetic listings, new listings and closed gross sales all embrace a comparability to October 2019 for every native market (some 2019 knowledge shouldn’t be accessible).
That is the primary take a look at a number of early reporting native markets in October. I’m monitoring over 40 native housing markets within the US. A number of the 40 markets are states, and a few are metropolitan areas. I’ll replace these tables all through the month as extra knowledge is launched.
Closed gross sales in October have been principally for contracts signed in August and September when 30-year mortgage charges averaged 6.50% and 6.18%, respectively (Freddie Mac PMMS). These have been the bottom mortgage price in 2 years!
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In October, gross sales in these markets have been up 17.3% YoY. Final month, in September, these similar markets have been down 0.3% year-over-year Not Seasonally Adjusted (NSA).Vital: There was yet one more working day in October 2024 (22) as in October 2023 (21). So, the year-over-year enhance within the headline SA knowledge can be lower than the NSA knowledge signifies. Final month there have been the identical variety of working days in September 2024 in comparison with September 2023 (22 vs 23), so seasonally adjusted gross sales have been down about the identical as NSA gross sales.
Gross sales in all of those markets are down considerably in comparison with October 2019.
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This was simply a number of early reporting markets. Many extra native markets to come back!
There’s way more within the article.
